California Revenue and Taxation Code

§ 17058

RTC § 17058 Effective Jan 1, 2026Div. 2 · Part 10 · Ch. 2

Statute text

(a)(1) There shall be allowed as a credit against the “net tax,” defined in Section 17039, a state low-income housing tax credit in an amount equal to the amount determined in subdivision (c), computed in accordance with Section 42 of the Internal Revenue Code, relating to low-income housing credit, except as otherwise provided in this section.

(2)“Taxpayer,” for purposes of this section, means the sole owner in the case of an individual, the partners in the case of a partnership, and the shareholders in the case of an “S” corporation.

(3)“Housing sponsor,” for purposes of this section, means the sole owner in the case of an individual, the partnership in the case of a partnership, and the “S” corporation in the case of an “S” corporation.

…

Legislative history

Amended by Stats. 2025, Ch. 492, Sec. 2. (AB 480) Effective January 1, 2026. Section conditionally inoperative pursuant to subd. (t).